Cade approves Subsea7-Saipem merger

Brazil’s Administrative Council for Economic Defense (Cade) has approved, without restrictions, the proposed merger between Subsea7 and Saipem.

The transaction, which will combine Saipem and Subsea7 into one of the world’s largest offshore engineering and construction groups, was reviewed for its potential impact on Brazil’s subsea installation and maintenance services market. Cade concluded that the combination does not raise significant competition concerns in the country’s offshore oil and gas sector, marking another regulatory milestone for the transaction.

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